Cryptocurrency Terminology for beginners
Most people just jump into the world of cryptocurrency with no understanding of what they read or hear on the financial markets. Now I have listed some popularly used term in the cryptocurrency markets. These terminologies will help you understand and trade better with Cryptocurrencies. When you hear these phrases next time, I bet you know what it means.
FUD: Fear, Uncertainty, and Doubt. Propaganda to lower prices.
FOMO: Fear of Missing Out.
HODL: Someone spelled HOLD wrong on a forum.
MOONING: Price going up extremely high.
FIAT: Government-issued currency, such as the US dollar.
WHALE: Someone who owns lots of cryptos.
BULLISH: an expectation that price is going to increase.
BEARISH: An expectation that price is going to decrease.
ATH: All-Time-High. The highest price a coin has ever been.
MARKET CAP: Total Supply at Current Price
ICO: Initial Coin Offering. A type of Crowd-funding
ROI: Return on investment. Gains - Initial Investment.
COLD STORAGE: Moving crypto-currency 'offline' Paper/hardware Wallet.
BLOCKCHAIN: Distributed ledgers.Public databases that everyone can access and read.but the data can only be updated by the data owners.Data is copied across thousands and thousands of computers (nodes)worldwide.
FORK: When a blockchain splits into the two separate chains.
Great job sharing tips for new investors. Check out my article on Steemit providing tips for new cryptocurrency investors: https://goo.gl/iyrTNC
HODL: Hold On for Dear Life
Crypto isn't for the coding geeks anymore. Every time BTC get mentioned on the news, more people with FOMO are buying in. These people are SHMO (Should Have Missed Out) when BTC crashes down.
Right, I will keep SHMO (Should Have Missed Out) in mind. I believe the knowledge matters for those who don't want to regret later, either bitcoin crashes or not.
This terminologies are very good for beginners like me. when i hear any term this time i would know what it means.